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8 May 2018

News round up 8 May 2018

A round up of all the latest news on www.globalcorporateventuring.com for our subscribers.

Author: Callum Cyrus, Reporter

Fundraising

Salesforce to track Canadian startups with $100m fund

Canada Trailblazer Fund will invest in Canada-based cloud services startups and has already backed Tier1CRM, Traction Guest, Tulip and OSF Commerce.

Corporates swarm to The Hive

General Electric, Rockwell, Verizon and Software AG all backed The Hive's third AI-focused fund, which has closed at $26.5m.

Illumina Acclerator calls in new cohort

Startups targeting fertility, PTSD and fungal skin infections are all in the frame for funding as Illumina Accleerator launches its seventh batch.

 

People

Keane quits Qualcomm for Promus Ventures

Gareth Keane’s departure from Qualcomm Ventures followed a separate change in its Americas teams, with Alexandre Villela hired to run Latin America and Carlos Kokron moving to North America.

Samsung's Kim comes to LG

Dong-Su Kim, who has led investments in more than 20 companies for Samsung Ventures America, is setting up a new fund at LG.

Goette gets out of Siemens after nearly 30 years

Gerd Goette built a storied career at Siemens, investing in more than 50 transactions and taking more than 25 directorships and board observer positions.

Verrilli ventures back to GV

Jessica Verrilli, who originally left Twitter for GV in 2015, has made the same move two and a half years later to take a general partner role.

Adams filters search down to Mann+Hummel

Air and water filter producer Mann+Hummel has hired Mike Adams from 8 Rivers Capital as director of corporate ventures.

Kizilbash kisses Schlumberger goodbye

Imran Kizilbash, formerly vice-president at Schlumberger Technology Investments, is considering his next move.

Faerber joins the ex-GV mob at Section 32

GV's chief financial officer since it was formed, Jonathan Faerber has departed to take the same role at the Bill Maris-founded Section 32.

Davis leaves Samsung for space in Canapi

Timur Davis, a senior investment manager at Samsung Ventures since 2015, has been appointed principal at Live Oak Bancshares' strategic investment arm.

 

Exits

Flipkart's board approves $15bn Walmart takeover

SotfBank is set to completely exit Flipkart as part of a deal that will value the company at $20bn, in which Alphabet is now expected to be involved.

Inspire Medical inhales $108m in IPO

The sleep apnea developer, backed by Medtronic and Johnson & Johnson, floated at the top of its range before seeing its stock rise 56% on the first day.

Xiaomi gets $10bn IPO rolling

The Qualcomm and NGP-backed electronics producer is reportedly seeking a $100bn valuation for the Hong Kong offering.

Radius follows Leadspace into new company

Radius, which is backed by Salesforce, Comcast, BBVA and Amex, has merged with fellow B2B marketing software provider Leadspace.

Scholar Rock tones up for $75m IPO

The Kraft Group-backed spinal muscular atrophy drug developer has raised more than $100m in funding since 2012.

Raksul books IPO spot

Printing services provider Raksul, which has raised more than $68m from backers including Gree, Opt, GMO, Itochu, Plus, Mixi, Yahoo Japan and Nippon Life, will list in Tokyo.

NLight lasers in on public markets with $96m IPO

The Samsung Ventures-backed laser manufacturing technology developer popped 56% after floating above its range last week.


IT

SoundHound gets $100m treat

Tencent, Daimler, Midea Group, Orange and Hyundai Motor Company all contributed as the voice technology platform raised cash at a $1bn+ valuation.

Mahindra piles funding into Resson

Agricultural analytics platform Resson could get up to $5.2m from farming equipment maker Mahindra, which would receive a 10% stake.

Salesforce helps fit $24m into IFTTT

The IoT integration platform developer boosted its overall funding to $63m in a Salesforce Ventures-led round featuring IBM.

RStor rests easy with $45m

RStor has emerged from stealth with a Cisco-led series A round to launch a multicloud platform as it prepares to increase its headcount.

 

Health

Eli Lilly eyes Avedro in $25m round

Corneal remodelling system developer Avedro boosted its total funding to more than $220m with a round led by Lilly Asia Ventures.

BenchSci indexes $8m in series A funds

Google's Gradient Ventures unit was part of a series A round that will enable the biological research startup to boost its headcount.

NovellusDx traces its way to $6m

Cancer care provider Helsinn's corporate venturing arm has invested in genomics diagnostics platform NovellusDx as part of a round that took its total funding to about $23m.

3SBio finds Refuge in $25m round

Biopharmaceutical product manufacturer 3SBio co-led the cancer therapy developer's series B round, which included WuXi Healthcare Ventures.

Cera looks after $17m series A

Auriens-backed in-home care services provider Cera has raised $17m in equity and debt to expand across the UK and into Germany.

Synyi syncs with investors in series B

The CEC and Shulan Health-backed medical data analysis platform received $15.8m in a round led by GGV Capital.

Cardionomic gets latest round flowing with $9m

The Cleveland Clinic and Greatbatch Medical- backed neuromodulation device developer is targeting a $9.6m close according to a securities filing.

Alzheon and Mereo cancel Nasdaq IPOs

The corporate-backed pharmaceutical developers had aimed to raise a total of $155m from offerings they filed for in March.

Datavant advances with new funding

Roivant Sciences has co-led a $40.5m round for Datavant, an offshoot it launched in August following a $1.1bn round led by SoftBank Vision Fund.

Investors pump $39m into Cardiac Dimensions

The Johnson & Johnson-backed cardiac medical device developer has completed a series B round that will fund clinical tests for its technology.

Crescendo composes $70m series B

Astellas-backed immuno-oncology drug developer Crescendo Biologics has secured $70m in a Takeda Ventures-backed round.

V-Wave breaks $70m in series C round

Existing investors Edwards Lifesciences and Johnson & Johnson contributed to a round that took the medical device developer's total funding to almost $105m.

10x Genomics takes $50m

SoftBank made its second investment in the genomics tool developer as part of a round that enhanced its total funding to $185m.

 

Media

Rubasinski leaves Sky to enter Polystream

Marek Rubasinski, formerly Sky's director of startup investments and partnerships, is gaming technology developer Polystream's new chief commercial officer.

Hustle shakes out $30m

GV and existing investor Salesforce Ventures were among the participants in a series B round that lifted the text messaging platform's total funding to $42m.

 

Consumer

Tencent accompanies UBtech to $820m

UBtech has achieved a $5bn valuation after raising $820m in Tencent-led series C round that included fellow corporates Telstra and Haier.

Viking Global throws Birchbox a $15m lifeline

Viking Global will take a majority stake in the cosmetics subscription service, once valued at $485m, wiping out other investors including Comcast Ventures.

 

Financial

LeaseLock picks open $10m series A

American Family Ventures and Liberty Mutual Strategic Ventures helped take the rental insurance platform’s total funding to $12m.

SoftBank sets sights on PolicyBazaar in $200m round

The corporate's Vision Fund is reportedly set to invest $150m in the insurance portal as part of the round, which could value it at $1bn.

Baidu spins out Du Xiaoman with $1.9bn

Baidu has divested a majority stake in its financial services unit, raising capital from investors including Taikang and ABC International.

Rubique squares funding with Recruit

Recruit has co-led a $15m to $20m round for financial services marketplace Rubique with Emery Capital.

Dosh cashes in with $44m

PayPal was among the investors as the consumer cash-back platform completed a series A round that will support product development.

 

Industrial

Soft Robotics picks corporates to raise $20m

Yamaha Motor, Honeywell Ventures, Tekfen Ventures, ABB Technology Ventures and Taylor Farms Ventures have all backed the robotics developer.

NIS slips through to $12m of funding

Evonik-backed lubricant additive producer Nanotech Industrial Solutions received the funding in a round led by  EcoMachines Ventures.

 

Transport

Algolux unravels $10m in series A round

The autonomous vision technology developer raised the cash in a GM Ventures-led round that included fellow CVC unit Intact Ventures.

Go-Jek helps Patheo pack in $10m

Ride hailing and delivery service Pathao has raised more than $10m in pre-series B funding from investors including Go-Jek at a $100m valuation.

 

Services

Zola engages Comcast for $100m series D

Comcast Ventures returned to lead a series D round for online wedding registry Zola that attracted its sister company NBCUniversal as a new shareholder.

Masterclass makes tracks to $70m series D

The Bloomberg and Novel Group-backed online education provider is reportedly close to closing a round that will take its total funding to $126m.

NetEase Youdao passes first funding test

The online education services provider has raised an undisclosed amount of funding at a $1.1bn valuation, adding Legend Capital to its shareholders.

Flexport gets $100m shipment from SF Express

SF Express made a strategic investment in the freight logistics platform, which is also backed by Bloomberg Beta and GV.

VIPKid to enrol investors in $500m round

The online tutoring platform, which raised $200m in a Tencent-backed round last August, plans to double its valuation in its latest round.

Shenzhen Scholar shakes out $40m from CRE

The China Resources Enterprise-backed CRE Alliance has paid $40m for a minority stake in the online tutoring service.

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